Today’s generation of millennial CPAs differ greatly from their Baby Boomer counterparts. As the times have shifted to reflect a deeper focus on using technology to its utmost advantage and striving to make the world a better place, millennials embody the concerns of their generation that won’t only affect them now, but also in the future.
Therefore, in order to remain competitive in attracting top talent, it’s important that your firm reflects these millennial values that are continuously shaping and re-branding many companies and organizations. Here are the top 8 values every firm should have in order to remain relevant and also improve overall brand presentation in today’s millennial generation.
From partners to human resources, every department in your firm should strive to be as transparent as possible with the staff and with one another. Be honest and let your employees know that they can come to anyone as a resource and that information, whether confidential or public, can be trusted in one another’s hands and dealt with professionally.
2. Corporate Social Responsibility
Millennials want to know that their employers are doing their due diligence to positively impact the world. Corporate Social Responsibility (CSR) can play a large role as new staff decide whether or not to join your firm, since they believe it should be a company’s duty to help whoever/whatever they can more than just a decision to do so.
Millennials are ambitious, smart, and take initiative. They have grown up in a time that has forced them to adapt to new changes frequently, mostly with the advent of technology. It goes without saying that firms should be quick to do the same. Whether it’s improving software, company policies, or putting new protocol into place, it’s important to stay up-to-date with trends and make changes that allows employees to work smarter; not harder.
This is probably one of the most significant values that firms (and really, any person) can possess. However, not everyone is endowed with empathy, so for those in your firm who aren’t, it would be a good idea to regroup and get some personal training on this value. The ability to understand where and why a person is struggling makes all the difference in having a successful business, no matter where you fall in the workforce hierarchy.
The accounting profession can at times become extremely strenuous, especially during Busy Season. If you don’t have an open communication policy within your firm that lets employees know that they can voice their opinions and explain their challenges, this will most likely lead to a rapid morale and in turn business decline. Everyone from partners to junior staff should be able to openly communicate with one another and know that they are not operating in a vacuum. This will increase productivity and comradery.
Millennials want to know how they’re doing frequently, and don’t want to beat around the bush when it comes to areas they can improve in or areas they’re doing well in. They also want to be acknowledged for their individual efforts whether they’re on a team or working autonomously. Therefore, emphasizing the importance of accountability will be beneficial to your firm, letting everyone know that each person is solely responsible for his or her actions/decisions, which will prevent others from sweeping things under the rug or blaming others for areas they fall short.
One of the most crucial benefits a firm can offer millennial employees is flexibility. More and more, companies and organizations are revamping their policies to give their staff the capacity for a better work/life balance. This ranges from the ability to work from home to less constricting paid-time off regulations. Millennials want to be able to pursue both their personal and professional aspirations without having to put one off to feed the other.
Every firm should put their employees’ mental, physical, and emotional health first and foremost. And millennials are looking to see that their employers are doing this by instilling wellness programs at the firm. This can range from occasional child daycare to weekly gym classes and anything in between. Giving your staff wellness perks that encourage them to take care of themselves shows appreciation for them as people as well as gratitude for hard work they’re contributing to your firm.
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